By learning about Forex daily statistics, you will be able to better manage your risk as a trader and understand how the various currencies are related. You can also learn how the different Forex pairs move over different time frames.
The Economic Calendar
As a trader, you need to remain aware of major economic announcements. If you are day trading, close all of your positions before a new announcement has been scheduled. Only start trading once again after the news is released.
If you are swing trading, make sure you are aware of any major economic news that may be announced. If the stop loss you have is extremely close to the price prior to a news announcement, you may want to consider closing the position because the announcement may result significant dumps/jumps possible, making a stop loss ineffective.